Traders Buy Kraft Heinz (KHC) on Weakness

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Traders bought shares of Kraft Heinz Co (NASDAQ:KHC) on weakness during trading on Thursday. $79.14 million flowed into the stock on the tick-up and $48.26 million flowed out of the stock on the tick-down, for a money net flow of $30.88 million into the stock. Of all companies tracked, Kraft Heinz had the 30th highest net in-flow for the day. Kraft Heinz traded down ($0.86) for the day and closed at $55.54

Several brokerages have recently commented on KHC. ValuEngine upgraded Kraft Heinz from a “strong sell” rating to a “sell” rating in a report on Friday. Zacks Investment Research upgraded Kraft Heinz from a “sell” rating to a “hold” rating in a report on Tuesday, October 9th. BidaskClub upgraded Kraft Heinz from a “sell” rating to a “hold” rating in a report on Tuesday, October 9th. Credit Suisse Group upgraded Kraft Heinz to a “hold” rating and set a $52.00 target price on the stock in a report on Thursday, October 4th. Finally, Morgan Stanley began coverage on Kraft Heinz in a report on Monday, September 17th. They set an “underweight” rating and a $52.00 target price on the stock. Four research analysts have rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $72.02.

The stock has a market capitalization of $67.72 billion, a P/E ratio of 16.21, a PEG ratio of 1.96 and a beta of 0.51. The company has a quick ratio of 0.70, a current ratio of 1.05 and a debt-to-equity ratio of 0.48.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings results on Friday, August 3rd. The company reported $1.00 EPS for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.08. The company had revenue of $6.69 billion for the quarter, compared to analyst estimates of $6.57 billion. Kraft Heinz had a return on equity of 6.16% and a net margin of 40.85%. Kraft Heinz’s revenue was up .7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.98 earnings per share. On average, equities research analysts predict that Kraft Heinz Co will post 3.7 earnings per share for the current fiscal year.

In other Kraft Heinz news, EVP Eduardo Pelleissone sold 35,000 shares of the firm’s stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $63.85, for a total value of $2,234,750.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Global Food Holdings Lp 3G sold 20,630,314 shares of the firm’s stock in a transaction that occurred on Tuesday, August 7th. The shares were sold at an average price of $59.85, for a total value of $1,234,724,292.90. The disclosure for this sale can be found here. 26.81% of the stock is currently owned by company insiders.

Hedge funds have recently bought and sold shares of the business. Pittenger & Anderson Inc. lifted its position in shares of Kraft Heinz by 80.7% in the third quarter. Pittenger & Anderson Inc. now owns 28,410 shares of the company’s stock valued at $1,566,000 after buying an additional 12,685 shares during the last quarter. Tredje AP fonden lifted its position in shares of Kraft Heinz by 69.9% in the second quarter. Tredje AP fonden now owns 128,756 shares of the company’s stock valued at $8,088,000 after buying an additional 52,959 shares during the last quarter. Strategic Advisors LLC lifted its position in shares of Kraft Heinz by 38.8% in the second quarter. Strategic Advisors LLC now owns 24,710 shares of the company’s stock valued at $1,552,000 after buying an additional 6,908 shares during the last quarter. Loudon Investment Management LLC acquired a new stake in shares of Kraft Heinz in the second quarter valued at approximately $2,713,000. Finally, Schwab Charles Investment Management Inc. lifted its position in shares of Kraft Heinz by 4.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 2,208,820 shares of the company’s stock valued at $138,759,000 after buying an additional 94,749 shares during the last quarter. Hedge funds and other institutional investors own 62.90% of the company’s stock.

About Kraft Heinz (NASDAQ:KHC)

The Kraft Heinz Company manufactures and markets food and beverage products in the United States, Canada, Europe, and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products. The company offers its products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Planters, Maxwell House, Capri Sun, Ore-Ida, Kool-Aid, Jell-O, Cracker Barrel, P'Tit Cheese, Tassimo, Classico, Plasmon, Pudliszki, Honig, HP, Benedicta, ABC, Master, Quero, Golden Circle, Wattie's, Glucon D, and Complan names.

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